Wells Fargo & Company Issues Positive Forecast for Sunstone Hotel Investors (NYSE:SHO) Stock Price

Sunstone Hotel Investors (NYSE:SHO) had its price target boosted by Wells Fargo & Company from $11.00 to $13.00 in a research note published on Monday,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Sunstone Hotel Investors Stock Up 0.5 %

SHO stock opened at $12.13 on Monday. Sunstone Hotel Investors has a 52 week low of $9.39 and a 52 week high of $12.34. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $10.54 and a 200-day simple moving average of $10.32. The stock has a market capitalization of $2.44 billion, a P/E ratio of 15.95, a P/E/G ratio of 6.41 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Sunstone Hotel Investors’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share. Equities analysts forecast that Sunstone Hotel Investors will post 0.78 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, December 31st. Sunstone Hotel Investors’s payout ratio is 44.74%.

Institutional Investors Weigh In On Sunstone Hotel Investors

A number of hedge funds have recently modified their holdings of the business. Federated Hermes Inc. purchased a new stake in Sunstone Hotel Investors during the 2nd quarter valued at about $34,000. Quarry LP grew its position in shares of Sunstone Hotel Investors by 584.1% in the second quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 3,680 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Sunstone Hotel Investors in the second quarter valued at approximately $52,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Sunstone Hotel Investors in the third quarter valued at approximately $59,000. Finally, Blue Trust Inc. lifted its position in Sunstone Hotel Investors by 342.9% during the second quarter. Blue Trust Inc. now owns 7,406 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 5,734 shares in the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release owns 14 hotels comprised of 6,675 rooms, the majority of which are operated under nationally recognized brands. Sunstone's strategy is to create long-term stakeholder value through the acquisition, active ownership, and disposition of well-located hotel and resort real estate.